78
78
Jun 21, 2013
06/13
by
CNBC
tv
eye 78
favorite 0
quote 0
what's your assessment of our economy? >> yeah. what's interesting, larry, is we know that the fiscal drag is hitting right now. the combination of tax increases and spending cuts should be the most onerous right now in the second and third quarter and yet, the u.s. economy has held in there fairly well and i'm not so optimistic that we'll get through the two quarters without a drop some place and i'm concerned about not only china's pmi, but i think we'll get softening economic data here that will take some of the taper off of the tapering that we're getting from the fed. in other words, yields should back down here after they race up a bit more. i think 275 on the ten-year might be the peak there and the midpoint in the summer we'll question the u.s. economy a little bit more because of the fiscal drag and just one more thing. two weeks ago, i got a meeting with orrin hatch, and he's obviously the ranking minority member of the central tax writing authority in the congress on the senate side, we know that tax reform is moving for
what's your assessment of our economy? >> yeah. what's interesting, larry, is we know that the fiscal drag is hitting right now. the combination of tax increases and spending cuts should be the most onerous right now in the second and third quarter and yet, the u.s. economy has held in there fairly well and i'm not so optimistic that we'll get through the two quarters without a drop some place and i'm concerned about not only china's pmi, but i think we'll get softening economic data here...
71
71
Jun 22, 2013
06/13
by
CSPAN
tv
eye 71
favorite 0
quote 0
the economy has to grow on its own volition. you cannot have this artificially-induced said said -- fed stimulus. itke any drug, it wears off. may have already started. it is not as effective, so we might see some corrections in the market going forward. the fed might come out like bullard came out and said, -- and say, he is only kidding. he is not kidding.the markets are already moving against it. we will see how far it goes. right now, raising taxes is a hotly-debated economic issue. most economists -- ic issuebated economy among economists. you can imagine what site i am on. i am not in favor of tax hikes because it kills the timing. christina romer said that is true. the endgame said -- the end game is not going to be pretty. host: an editorial cartoon shows fed chairman ben bernanke pulling the rug on quantitative easing.stephen idaho falls, idaho. falls, idaho.aho good morning. caller: good morning. i was wondering if printing dollars is a flat tax that president obama and his administration could not possibly pass otherw
the economy has to grow on its own volition. you cannot have this artificially-induced said said -- fed stimulus. itke any drug, it wears off. may have already started. it is not as effective, so we might see some corrections in the market going forward. the fed might come out like bullard came out and said, -- and say, he is only kidding. he is not kidding.the markets are already moving against it. we will see how far it goes. right now, raising taxes is a hotly-debated economic issue. most...
102
102
Jun 19, 2013
06/13
by
FBC
tv
eye 102
favorite 0
quote 0
the economy is abo think we thought 2 would be at the start of 2013. we think it is a slow growth u.s. economy growing about 2%. europe maybeefeels like it is hitting the bottom. still no growth, maybe slightly negative. in the developing world it is still the fastest growing markets for us. i think china rather than growing 8%, may be growing closetory 6 to 7%. but the important thing it is not getting any worse and i do see global trade, cross-border trade increasing. >> okay. that's a good sign if we see trade increasing. but ups guidance in the first quarter, you're still saying earnings per share growth of roughly 6 to 12%. the target is 10 to 15%. has that changed as we get ready for your earnings report in july? >> no. we'll update that, adam first part of july. currency was hurting us. we had higher pension expense because of the lower discount rates at the end of last year. take that out we would be pretty close to our long-term ranges. we don't see looking into the future that we shouldn't hit that 10 to 15% earnings growth. >> let me bring u
the economy is abo think we thought 2 would be at the start of 2013. we think it is a slow growth u.s. economy growing about 2%. europe maybeefeels like it is hitting the bottom. still no growth, maybe slightly negative. in the developing world it is still the fastest growing markets for us. i think china rather than growing 8%, may be growing closetory 6 to 7%. but the important thing it is not getting any worse and i do see global trade, cross-border trade increasing. >> okay. that's a...
153
153
Jun 22, 2013
06/13
by
CSPAN
tv
eye 153
favorite 0
quote 0
does the economy recover painfully slowly? yesterday john taylor at stanford has an interesting study. this is the worst recovery from a financially related recession in the history of the united states. generally, the markets are slow to recover. this is far worse. this involves the entire economy. it was not in the financial collapse. ,ost: in the financial times have a headline, fed signals sent investors running for cover. he delivered the clearest signal yet that the u.s. central bank was preparing to scale back or tapir its monthly asset purchases as long as u.s. economic conditions improve as expected. he commented at a news conference on thursday. was speedy and brutal. from georgeers mason university is here to talk to us about that. our next call is charles on our line for democrats. caller: it is nice to be able to speak this morning in reference to the economy. my issue is simply this. we have an economy with the laws are not enforced. the big bank ceo's have gotten away with murder and wrecked in this country. not
does the economy recover painfully slowly? yesterday john taylor at stanford has an interesting study. this is the worst recovery from a financially related recession in the history of the united states. generally, the markets are slow to recover. this is far worse. this involves the entire economy. it was not in the financial collapse. ,ost: in the financial times have a headline, fed signals sent investors running for cover. he delivered the clearest signal yet that the u.s. central bank was...
75
75
Jun 21, 2013
06/13
by
FBC
tv
eye 75
favorite 0
quote 0
this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just disagree with what the ultimate outcome would be and we are more bullish than he is. >> equity markets trading at 15 times multiple but you really have a growth trajectory of 2%. normal trajectory for the equity market with 15 times multiple gdp growing. but you don't have that. you need to see a fill in with economic activity in the second half for start to see more -- i would like to point out of this market, as you see even taper you are seeing risk of trade kick in and yields go higher, and maturities to four year, 3.5 year maturity to waive this out and perhaps wetter the approach to their portfolio
this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just...
119
119
Jun 22, 2013
06/13
by
CNNW
tv
eye 119
favorite 0
quote 0
economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's childish, it's all those things. but here's the reason. because investors have gone for exotic emerging markets with very narrow exits. of course, when things start to change, they all head for the door at the same time. you're absolutely right. the mere fact that he will be taking his foot off the gas is because the car is going fast enough on its own. so you have to put it into context. do i think we should be concerned? the hiccup, bucolic plague of the last week. absolutely not. the market knew it was coming and they're just having a nasty bout of indigestioindiges
economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's...
106
106
Jun 19, 2013
06/13
by
CNBC
tv
eye 106
favorite 0
quote 0
we knew the economy was improving. we're looking at the numbers, the way the federal reserve is looking at the numbers. unemployment has improved a bit. housing has certainly improved. what's wrong with the story, jeff? >> i think the market is overreacting. i agree with your second guest. it's going to be interesting to me to see if they can pile on here the rest of this week. i have been looking for some kind of intermediate top. i thought it would come in july. but we are very close to where i think you're in a place where you could get the first meaningful pullback, and if the markets don't correct themselves and start back up, i'd say in the next day or two, i'd say that pullback is here. >> all right. let me get to gordon, because he's been on the floor watching the activity, finishing up, settling his trades. gordon, what did you see at the end of the day? i know we were going down, down, down, as the market digested that we could, in fact, see the tapering begin in september of this year. but at the end of the
we knew the economy was improving. we're looking at the numbers, the way the federal reserve is looking at the numbers. unemployment has improved a bit. housing has certainly improved. what's wrong with the story, jeff? >> i think the market is overreacting. i agree with your second guest. it's going to be interesting to me to see if they can pile on here the rest of this week. i have been looking for some kind of intermediate top. i thought it would come in july. but we are very close to...
114
114
Jun 19, 2013
06/13
by
CNBC
tv
eye 114
favorite 0
quote 0
if market does well when the economy does well. this is just a short-term thing of people addicted to sugar, get them off the sugar, they'll be fine. >> do you think job growth is strong enough? the last four reports, the average growth rate has been about 194,000 jobs. chairman bernanke was suggesting, you know, he's throwing out the caveat that we're talking about a timetable of starting the tapering later this year, assuming that that kind of job growth continues. do you think it will? >> i think, actually, he's doing better, if you look at the household survey, which means it's small businesses that may be more robust than we think. this whole premise that the federal reserve is helping the economy by doing what it's doing, i think needs to be closely re-examined. it's sent credit to things like fannie and freddie, from the federal government to big companies, but it also means that it's been a slow trickle of credit until recently, to smaller businesses, which are the real job creators in this economy. and you look at insuranc
if market does well when the economy does well. this is just a short-term thing of people addicted to sugar, get them off the sugar, they'll be fine. >> do you think job growth is strong enough? the last four reports, the average growth rate has been about 194,000 jobs. chairman bernanke was suggesting, you know, he's throwing out the caveat that we're talking about a timetable of starting the tapering later this year, assuming that that kind of job growth continues. do you think it will?...
94
94
Jun 20, 2013
06/13
by
FOXNEWSW
tv
eye 94
favorite 0
quote 0
he saved the economy. now he is in the process of mapping the economy. you look at the second part, managing is harder than saving because you can do different things rather than one thing. so the market feels uncertain about this. natural for it to be uncertain. in the risk off, risk on world, when they're not sure, they stop everything. >> neil: you were around during the '87 market crash and crashettes. before and after. what do you watch for for something that overstays its welcome? in other words, just vote of keeps going on and -- just kind of keeps going on and on. >> you see if you missed something. this artificial economy, interest rates are out of whack. they're killing all kinds of investors, starting with retirees. so how long it lasts is how long it takes for all of these people to look further into the numbers, and come up with something that satisfied or at least making -- >> that gets to the question on how high should interest rates really be. some say if the fed were to just quit riding the apron strings for us, that maybe they wouldn't
he saved the economy. now he is in the process of mapping the economy. you look at the second part, managing is harder than saving because you can do different things rather than one thing. so the market feels uncertain about this. natural for it to be uncertain. in the risk off, risk on world, when they're not sure, they stop everything. >> neil: you were around during the '87 market crash and crashettes. before and after. what do you watch for for something that overstays its welcome?...
115
115
Jun 22, 2013
06/13
by
CNNW
tv
eye 115
favorite 0
quote 0
a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market participants, in particular those institutions who have now become reliant on monetary policy to drive stocks they may force mr. bernanke to become more aggressive and take the pedal off and put pressure off the pedal and start to taper a little bit. faster. i think that's what most people are worried. we think it's nonsense. fundamentals drive stocks and we're in the mid of a grand transition from dependency on monetary policy to dependency onfuls and we think there's volatility along the way. >> you might be right. volatilit
a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market...
17
17
tv
eye 17
favorite 0
quote 0
banks are very important indeed there are those who say that the most important institutions in the economy today and judging by the way that people hang on ben bernanke is every word like today like today as we're speaking it's obviously true now i think one has to be careful here the central bank has done a tremendous job of avoiding the great depression we came very very close to total meltdown two thousand and eight two thousand and nine we could have rerun the one nine hundred thirty s. i think ben bernanke is a student of the depression did a great job of avoiding that scenario but now we're in a different place the stock market is back to where it was in two thousand and seven and everybody there are scary times now. everybody is asking is it time to take the patient off this powerful medication called quantitative easing and i think that debate is going to be quite a protracted one because it's a little too early in my view to say recovery is established we can return to normal we can raise rates i don't think that is going to happen but there are there are critics of the fed who sa
banks are very important indeed there are those who say that the most important institutions in the economy today and judging by the way that people hang on ben bernanke is every word like today like today as we're speaking it's obviously true now i think one has to be careful here the central bank has done a tremendous job of avoiding the great depression we came very very close to total meltdown two thousand and eight two thousand and nine we could have rerun the one nine hundred thirty s. i...
13
13
tv
eye 13
favorite 0
quote 0
is it possible to navigate the economy with all the details and specifics in the information and media will keep you up to date by decoding the mainstream. states in your mind. good afternoon welcome to prime interest i'm bob english in washington d.c. area and has a day off so here are the stories we're tracking today now the markets are showing no love for bernanke in the thread after hinting yesterday that the fed might wind down quantitative easing in the u.s. responded sold off during the day and again overnight and again during today s. and p. five hundred open below a key technical support this morning and the money is not flowing into bonds as it's had been in the past instead somewhat reminiscent of two thousand and eight money is flowing into cash namely the u.s. dollar and in another twist money is also flowing out of emerging markets at the past his pace since two thousand and eleven we'll talk about the markets on the fed with will neil ferguson and a floor trader ben well as in a little bit and just when you thought the treasury department would simply keep its meddling t
is it possible to navigate the economy with all the details and specifics in the information and media will keep you up to date by decoding the mainstream. states in your mind. good afternoon welcome to prime interest i'm bob english in washington d.c. area and has a day off so here are the stories we're tracking today now the markets are showing no love for bernanke in the thread after hinting yesterday that the fed might wind down quantitative easing in the u.s. responded sold off during the...
130
130
Jun 23, 2013
06/13
by
FOXNEWSW
tv
eye 130
favorite 0
quote 0
it is good for our economy. this bill is good for our national securitiment no one can get a green card until the board of security measures are up and running and e verify is up and running and controlling a job in the -- in america. as to the 11 million they will have an earned, hard pathway to citizenship. they need to get in the back of te line before they become a citizen. they can't cut in line. they have to pass two english proficiency exams. i reject the idea of becoming mideastern europe. america is different than mideastern europe. this is a good solution for our national security and for our economy and tough, practical solution to 11 million. and most importantly if we do this bill, amnesty is the status quo. if we do this bill, there will be no third wave of illegal immigration. >> let me ask you about another objection senator lee just mentioned. the idea that this will be a huge 1200-page bill. i heard you complain about that during obamacare. the idea you have this huge bill that nobody has read
it is good for our economy. this bill is good for our national securitiment no one can get a green card until the board of security measures are up and running and e verify is up and running and controlling a job in the -- in america. as to the 11 million they will have an earned, hard pathway to citizenship. they need to get in the back of te line before they become a citizen. they can't cut in line. they have to pass two english proficiency exams. i reject the idea of becoming mideastern...
112
112
Jun 15, 2013
06/13
by
CNNW
tv
eye 112
favorite 0
quote 0
economy? >> i don't know. i would be a little bit more careful than keith and say let's move all the policy and remove ben bernanke's presence in the economy. the fed has done an extremely important role in the past several years of lessening the impact of this recession. it was a real meltdown we were experiencing in '08. what we are seeing now is an economy that's still heelialing from this deep recession. the housing market is looking better, auto production sales are picking up. some of the most cyclical parts of the economy are showing strength. i think we are on the beginning, in the beginning stages of that. what would worry me is that if you take away this fed policy too easily and create a big spike in interest rates, costs go up. two of the sectors that are performing the best, housing and auto, could start to suffer. i think you have to be very careful when you are this i go about policy prescriptions for the economy. >> what you are both illustrating to me was the word of the week, taper. it is no
economy? >> i don't know. i would be a little bit more careful than keith and say let's move all the policy and remove ben bernanke's presence in the economy. the fed has done an extremely important role in the past several years of lessening the impact of this recession. it was a real meltdown we were experiencing in '08. what we are seeing now is an economy that's still heelialing from this deep recession. the housing market is looking better, auto production sales are picking up. some...
58
58
Jun 19, 2013
06/13
by
FBC
tv
eye 58
favorite 0
quote 0
and the stocks are benefiting from the economy getting better and maybe eventually international economy getting better, the ones that did better during this timeframe. cheryl: i guess i stand corrected. we did sell on the news. want to ask you about that gdp production and whether you make any thing out of this. 2013, initially -- in march it was 23 to 28. today they came out and said foxbusiness.com to. cheryl: >> the economy is going through this fiscal drive. you mentioned there is fiscal worries. i think that you have to take that into account. more interesting is in the future years on how it will rebound. it implies that the fiscal drag will fall back. cheryl: and over to you about the differences here in the fed and what could be a change in. he was twice asked what his plans or and refused to answer the question. but at the same time, everyone seems to think the majority of those out there say janet will be the next federal reserve chairman. but that change is still unclear. what do you think happens? what is your prediction? >> my prediction would be janet, but i would caution
and the stocks are benefiting from the economy getting better and maybe eventually international economy getting better, the ones that did better during this timeframe. cheryl: i guess i stand corrected. we did sell on the news. want to ask you about that gdp production and whether you make any thing out of this. 2013, initially -- in march it was 23 to 28. today they came out and said foxbusiness.com to. cheryl: >> the economy is going through this fiscal drive. you mentioned there is...
81
81
Jun 22, 2013
06/13
by
FBC
tv
eye 81
favorite 0
quote 0
directn [laughter] >> something isn't right about the economy. i'm trying to be positive, and @%s, it has expanded every quarter going back to 2009.onsit but it is consistently weak growth. the job market has alsooak up al improved, but not enough to soak up all the new people that are coming into the job market. housing seems to be doing better. in some places, there is another price bubble.ecause but there is swapping 44%, they are either underwater or they the't have enough equity. it is the same number, 44% of people people people that they are worse off economically compared to just one year ago. it is a huge portion that isntry still hurting.gh i even though i don't like what the fed has done, i do not see a the fed making any big changes.s i do not see this fragileofts economy jumping out of this anytime soon. melissa: be sure to watch the tom sullivan show this weekend. you can catch it at seven and 10:00 p.m. on sunday at 7:00 a.m. andhappy. 7:00 p.m. happy friday, everyone. thank you foroi nijoining us.eel have a great weekend. we will
directn [laughter] >> something isn't right about the economy. i'm trying to be positive, and @%s, it has expanded every quarter going back to 2009.onsit but it is consistently weak growth. the job market has alsooak up al improved, but not enough to soak up all the new people that are coming into the job market. housing seems to be doing better. in some places, there is another price bubble.ecause but there is swapping 44%, they are either underwater or they the't have enough equity. it...
70
70
Jun 19, 2013
06/13
by
CNBC
tv
eye 70
favorite 0
quote 0
is it a recognition the economy might be better than we think? are we starting to work in the taper? why are rates going up? >> rates aren't going up, scott. they're sideways. they went up earlier and they went up to about 2.30% on the ten-year which we talked about a few weeks ago and since then they're just bouncing around. rates really aren't rising. they're going sideways, and i think actually rates are going to start falling. i think the place, the one place that you're likely to make money in the next several weeks, maybe couple of months, is actually, believe it or not, the most hated asset class on the planet, long-term u.s. government bonds. that's what i think is going to be the most successful investment, and looking at to the reach that conclusion is the fact that there is no inflation anywhere. there's no sign of inflation. when you look at the commodity market in particular, it really looks bad. i mean, look at where copper is. look at where gold is. look at where gold is in foreign currencies. i mean, it's hitting new lows in terms
is it a recognition the economy might be better than we think? are we starting to work in the taper? why are rates going up? >> rates aren't going up, scott. they're sideways. they went up earlier and they went up to about 2.30% on the ten-year which we talked about a few weeks ago and since then they're just bouncing around. rates really aren't rising. they're going sideways, and i think actually rates are going to start falling. i think the place, the one place that you're likely to...
46
46
Jun 23, 2013
06/13
by
KQED
tv
eye 46
favorite 0
quote 0
of the global economy. in a statement, the g8 warned that, quote, global economic prospects remain weak. though downside risks have reduced thanks in part to significant policy actions taken, unquote. in the u.s., the euro zone and japan. they depicted 2014 as a quote unquote difficult one with the euro zone in recession and the american economy still hampered by high unemployment. china did not participate in the discussions since china is not a member of the g8 although japan, its neighbor, is. >> why are the economies around the world slowing down. >> because the economies around the world have accumulated too much debt and they don't know how to get the economies moving again. china's growth rate is down to 6 or 5%. no one knows where it's going. exports within the european community are dropping all over the place. virtually every european country -- look at the unemployment rate in spain. it's 26%. you look at italy, france and spain, they're all cass -- basket cases. they have a debt to retail. just
of the global economy. in a statement, the g8 warned that, quote, global economic prospects remain weak. though downside risks have reduced thanks in part to significant policy actions taken, unquote. in the u.s., the euro zone and japan. they depicted 2014 as a quote unquote difficult one with the euro zone in recession and the american economy still hampered by high unemployment. china did not participate in the discussions since china is not a member of the g8 although japan, its neighbor,...
121
121
Jun 20, 2013
06/13
by
CNBC
tv
eye 121
favorite 0
quote 0
who could believe that anyone would actually want our economy to be weak? who would want people thrown out of work? that's how bonds work. people want to bid them up on bad news and sell them on good news. normally, you wouldn't have to worry about any of this. these are not normal times. again, imagine the united states is a stock that pays an okay dividend. we know that as stocks go down the yield goes higher. that's because the dividend stays the same but when you divide it by the share price the declining stock, well, the yield grows. right? i mean, pays $4 dividend. it's at 100. and then the stock goes to 80. well, obviously the dividend's yield is higher. so when sellers knock this country's stock down, it gets a bigger yield. suddenly the stock of the united states, continuing the fictional analogy-s once again competitive with the stocks of individual companies that people are hiding in on a yield basis. remember that tent, the hiders and capital appreciation people? yeah, that's right. the price of the u.s. fell so hard today off bernanke's happier
who could believe that anyone would actually want our economy to be weak? who would want people thrown out of work? that's how bonds work. people want to bid them up on bad news and sell them on good news. normally, you wouldn't have to worry about any of this. these are not normal times. again, imagine the united states is a stock that pays an okay dividend. we know that as stocks go down the yield goes higher. that's because the dividend stays the same but when you divide it by the share...
86
86
Jun 15, 2013
06/13
by
CNBC
tv
eye 86
favorite 0
quote 0
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places? tuesday we have a slew of japanese industrial production reports. we've got machine tools. we've got merchandise trade deficits. now, for years, i couldn't care less about this stuff. i could care less. i mean, really, like japan. it stopped meaning anything for a decade. these days, market players are drawn to japan because the government has a policy of driving its own currently down to build exports. if the data is positive here, japan's stock market will rocket. and if it doesn't and the government has nothing to say about it, like 6% declines lik
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places?...
84
84
Jun 20, 2013
06/13
by
FBC
tv
eye 84
favorite 0
quote 0
investors try to let gays cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we had a lot of 200. swings in the last 21 days since ben bernanke and his testimony may 22nd. half of those, ten of the 21 actually had 200. swings. the volatility is here and today you are obviously seeing a bigger move unusual. 350 points to the downside. cheryl: and an unusual move. that is how you would characterize this. >> reporter: absolutely an unusual move. essene the volatility of 10200, but not 350. cheryl: you will get back to you in a moment. phil flynn at the cme. >> reporter: it is a metals meltdown. what temperature doubles milton mack probably when the fed starts talking abou
investors try to let gays cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we...
106
106
Jun 20, 2013
06/13
by
FBC
tv
eye 106
favorite 0
quote 0
it is not a great economy. we have a pickup in housing, we have better gdp numbers although still -- adam: not great. >> no one is forecasting anything above 3%. we have lots of underemployment even if employment is -- unemployment is going down. that is with accommodationist fed policy. what happens if you take that way way? market says if you take that way, don't bet on it. that is bad economy. tracy: should the market not benefit from that, because that will stop qe? >> that is the second phase. the market has a mind. the mind if you stop it which bernanke said he would or probably would if certain things happen which he thinks are happening this is exactly how he said it, all those caveats. tracy: right. >> the market says sell. if janet yellen comes in, all bets are off, i'm printing money you will see the market go up. if they print money as average investor, market goes to 20,000. if they don't print i think we'll get more of this one or the other. adam: charlie gasparino. tracy: thank you very much. cha
it is not a great economy. we have a pickup in housing, we have better gdp numbers although still -- adam: not great. >> no one is forecasting anything above 3%. we have lots of underemployment even if employment is -- unemployment is going down. that is with accommodationist fed policy. what happens if you take that way way? market says if you take that way, don't bet on it. that is bad economy. tracy: should the market not benefit from that, because that will stop qe? >> that is...
62
62
Jun 16, 2013
06/13
by
WJLA
tv
eye 62
favorite 0
quote 0
>> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds.s. so it's a very strong environment. i think, it's a strong reminder that equities are an important part of the total return that investors are seeking. >> and i think one of the good things that he said about unemployment ratnte and it not coming down quickly. you know, consumers doing well, businesses are still cautious and we are in a global economy and a lot of u.s. companies today, depend on sales overseas. the u.s. is doing better, but overseas europe is trying exit recession and china is growthwt rate slowing, brazil is facing pains. and even if the consumer is doing better, overseasea is sti
>> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds.s. so it's a very strong environment. i think, it's a strong reminder that...
98
98
Jun 15, 2013
06/13
by
CNBC
tv
eye 98
favorite 0
quote 0
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places? tuesday we have a slew of japanese industrial production reports. we've got machine tools. we've got merchandise trade deficits. now, for years, i couldn't care less about this stuff. i could care less. i mean, really, like japan. it stopped meaning anything for a decade. these days, market players are drawn to japan because the government has a policy of driving its own currently down to build exports. if the data is positive here, japan's stock market will rocket. and if it doesn't and the government has nothing to say about it, like 6% declines lik
have you looked around at the world's other economies? we're doing better than everyone else on the globe, in part because our chief executive officers have done an excellent job in a global slowdown, but also because of exactly what bernanke's doing. this bond program has probably allowed you and other americans refi their home and companies fix their balance sheets, which is why we're not in the shape of china or brazil or india. can you imagine we're doing better than all of those places?...
82
82
Jun 20, 2013
06/13
by
CNBC
tv
eye 82
favorite 0
quote 0
he is projecting the economy will get better, and we would agree. but now i think people are worried about the removal of the monetary stimulus, and they just don't have confidence yet in the economy. >> remember when we were hitting those new highs on almost a daily basis? everybody said, we need that pull-back to give people who haven't gotten gu tinto the mara chance to get into the mark. >> there's two things. there's sentiment on the fixed income markets. the fixed income markets have been overshooting. we have fixed income type of index and it has reached almost panic level at this point. generally when we see these panic levels in the fixed income market, three to six months later, we tend to see better returns with fixed income, so the bottom market is overdoing it in terms of the upside on yields. it doesn't mean they can't go a little bit further from here, but it feels like it's getting somewhat overdone at this point. >> jim, if you're not the rangeer, you're the big ranger here, so why do you have a range from 15-something to 17-somethi
he is projecting the economy will get better, and we would agree. but now i think people are worried about the removal of the monetary stimulus, and they just don't have confidence yet in the economy. >> remember when we were hitting those new highs on almost a daily basis? everybody said, we need that pull-back to give people who haven't gotten gu tinto the mara chance to get into the mark. >> there's two things. there's sentiment on the fixed income markets. the fixed income...
207
207
Jun 21, 2013
06/13
by
CNBC
tv
eye 207
favorite 0
quote 1
is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know, you made a comment earlier about are we ahead of ourselves from a fundamental perspective? i think the market is very forward looking, right? so the point there is i think the market is looking ahead six months and saying, we're going to be in a very different place -- >> hang on, hang on. i understand that point, but i don't think that's where we are because we were artificially inflated by the fed, and the assumption was that the fundamentals would come up to support us, and, therefore, it's not a normal situation. what we're sayi
is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know,...
147
147
Jun 20, 2013
06/13
by
CNBC
tv
eye 147
favorite 0
quote 0
economy and to cisco? >> i think this is where the fed deserves a lot of credit in the last couple of years. we haven't done things with deficit spending and repatriation to stimulate the economy. the fed used all of the skills that they had. so you've got a track record of calling it right. if they believe it's time to slowly taper back a little bit, the main thing is the economy is in better shape. >> it's not tapering that you want, you want tax reform in the united states. you want to get that money which you have to hold off shore for u.s. jobs, yes? >> the u.s. tax system is broken. we've waited for years for it to come back. we're assuming that's not going to happen. we don't think that it's going to happen. that's why you see me traveling throughout asia pacific, throughout europe and you've seen the majority of our acquisitions in the past year in terms of the big ones, at least half over seas. >> you can't repay the try eight the $47 billion? >> i can't repay the try eight the $47 billion. i'm on
economy and to cisco? >> i think this is where the fed deserves a lot of credit in the last couple of years. we haven't done things with deficit spending and repatriation to stimulate the economy. the fed used all of the skills that they had. so you've got a track record of calling it right. if they believe it's time to slowly taper back a little bit, the main thing is the economy is in better shape. >> it's not tapering that you want, you want tax reform in the united states. you...
47
47
Jun 19, 2013
06/13
by
CNBC
tv
eye 47
favorite 0
quote 0
they are all coming down. >> no, i think the economy is fine. i mean, remember the amount of fiscal drag. look at real consumer spending, growing at about a 2% to 3% pace in the first half of the year. that's great if you're bringing the deficit down. we've got a lot of fiscal drag and the economy is dealing with that. i think we're seeing good numbers on housing. i think we're seeing good numbers on consumer spending. everything is not right in business or manufacturing, i get that, there's a lot of weakness in the world economy, but overall the economy is absorbing a huge amount of fiscal draug drag right now. i think it's powering through that, and i think it's actually got less to worry about.right n. i think it's powering through that, and i think it's actually got less to worry about. >> it's a very big footprint. >> something that's very important to remember. >> just to reiterate, there's no explicit indication from the fed that it's close to scaling back its bond-buying program. bob pisani, the markets have been moving lower on this. cu
they are all coming down. >> no, i think the economy is fine. i mean, remember the amount of fiscal drag. look at real consumer spending, growing at about a 2% to 3% pace in the first half of the year. that's great if you're bringing the deficit down. we've got a lot of fiscal drag and the economy is dealing with that. i think we're seeing good numbers on housing. i think we're seeing good numbers on consumer spending. everything is not right in business or manufacturing, i get that,...
99
99
Jun 20, 2013
06/13
by
KRCB
tv
eye 99
favorite 0
quote 0
if the economy is improving what are the economic sensitive things to do better? diversified companies and consumer discretionary stocks like housing and auto and media. if we're right that the economy starts to pick up in the second half of this year and into next, then those stocks are cheap and ought to do well. >> how alarmed were you by that chinese manufacturering number that came out overnight? it kneecaped the commodities space and some of the stocks, as well. is this what you would see as the beginning of a long-term slowing in emerging markets and in china? >> there is $64,000 question. we've been emerging for the last several quarters. the pmi number in china overnight was an ink mental data point that concerns investors. we would like to see the chinese government to come out with fiscal and monetary initiatives that would restimulate growth into the start of next year but at this point it's like waiting for gudel. we're watching the economy slow down in china where maybe 7.5 to 8% run rate this year. we would like to see that number stabilize there, m
if the economy is improving what are the economic sensitive things to do better? diversified companies and consumer discretionary stocks like housing and auto and media. if we're right that the economy starts to pick up in the second half of this year and into next, then those stocks are cheap and ought to do well. >> how alarmed were you by that chinese manufacturering number that came out overnight? it kneecaped the commodities space and some of the stocks, as well. is this what you...
121
121
Jun 18, 2013
06/13
by
CNBC
tv
eye 121
favorite 0
quote 0
economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural issues if we find ourselves back in the state in the recovery we currently have is going to be questioned. >> i think that's right nevada the confidence fa we node to keep if economy going seems to be correlated to the market's perception of what the fed is doing. and maybe we're surprised by that a little bit because the fundamentals shouldn't be so checked. but the pact is, they are. the psychology, the canesian animal spirits, if you will, seem to be realed to the market's reactions to where the fed is on the issue. and i think what you
economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural...
44
44
Jun 20, 2013
06/13
by
KQED
tv
eye 44
favorite 0
quote 0
of course, that depends on the economy and that the economy sticks to the script that the fed believes it will and, you know, that's most likely economic sen scenario and interest rate path. >> mark, what do you think of the timetable? do you think the economy is ready to have the training wheels come off? >> yeah, i do. you know, i think that by late this year, the fiscal head winds, the tax increases and spending cuts will begin to fade that will let the better private economy shine through that is a long narrative in story but i think it is the best and most likely story and yes, at that point i think it makes sense to start tapering qe ending and starting to raise interest rates. >> if the economy is getting better which allows the tapering of the qe, why did the markets react so negatively? >> yeah, good question. you know, if you read sort of the fine print in the fomc statement, it was pretty hawkish. they dowed back their worries about the risks to the economy. they lowered their forecast for the unemployment rate. they even dismissed the lower inflation to be temporary. i thin
of course, that depends on the economy and that the economy sticks to the script that the fed believes it will and, you know, that's most likely economic sen scenario and interest rate path. >> mark, what do you think of the timetable? do you think the economy is ready to have the training wheels come off? >> yeah, i do. you know, i think that by late this year, the fiscal head winds, the tax increases and spending cuts will begin to fade that will let the better private economy...
140
140
Jun 20, 2013
06/13
by
CNBC
tv
eye 140
favorite 0
quote 0
to help improve the economy. that's why democrats and republicans on capitol hill, and the president, need to deal with a fix our tax code to help promote more economic growth and deal with long-term spending problems. we have spent more money than what we brought in for 55 of the last 60 years. that ought to scare the hell out of every american. we need deal with this problem openly and honestly. because if we do, investors around the country, business owners will look up and good, gee, they are actually dealing with the issues that i'm most concerned about. then i'll begin to invest. >> but how likely is that over the next year? bernanke made it clear yesterday that if the data continues as it is, then they could be out of the bond buying business by next year this time. that bun year. will we see fiscal policy in terms of tax reform. in terms of regulatory clarity. will we see that in the next 12 months? >> hope springs eternal in my heart. while we have big differents on what tax reforms might look like, what
to help improve the economy. that's why democrats and republicans on capitol hill, and the president, need to deal with a fix our tax code to help promote more economic growth and deal with long-term spending problems. we have spent more money than what we brought in for 55 of the last 60 years. that ought to scare the hell out of every american. we need deal with this problem openly and honestly. because if we do, investors around the country, business owners will look up and good, gee, they...
60
60
Jun 17, 2013
06/13
by
FBC
tv
eye 60
favorite 0
quote 0
gerri: i have to tell you, i look at this economy. delicate this economy and think, boy, we have pundit 2 percent@ gdp growth, 7% plus jobs unemployment rate. liz and saunders told a shootout we would not have that died down in the middle of the year like we have in the past two to three years. what do you say? >> they are exactly right. this is where we have seen a massive disconnect between market's fundamentals and the pricing. the s&p continues to motor hire@ and durable goods continued to fade. consumer confidence has continued to fade. so we don't see even last week's induutrial production numbers implying for first half of the year basically in the second quarter flat. you adjusted for real world inflation, the reflection number would be negative and very ugly. that does not help gdp figures. gerri: wow. >> they're not in a position to taper. they're not in a position to pull back. i think what you see -- gerri: we may get it. to you. i feel like the economy should be stronger. we need more growth. how do you play this? >> well
gerri: i have to tell you, i look at this economy. delicate this economy and think, boy, we have pundit 2 percent@ gdp growth, 7% plus jobs unemployment rate. liz and saunders told a shootout we would not have that died down in the middle of the year like we have in the past two to three years. what do you say? >> they are exactly right. this is where we have seen a massive disconnect between market's fundamentals and the pricing. the s&p continues to motor hire@ and durable goods...
36
36
Jun 20, 2013
06/13
by
CNBC
tv
eye 36
favorite 0
quote 0
economy, housing around energy, but overall the economy is very unlikely to grow at 5% or 5.5% knowledge nal which is what the fed is forecasting and, therefore, the degree to which the market is pricing in tapering is unlikely to materialize. these rates actually will probably stabilize and head lower towards the end of the year. granted, we're seeing a lot of unwinding and a lot of volatility, but these markets should stabilize over time and this will prove to be an attractive buying opportunity. >> hold on one second, simon. jeff gundlach was on our show yesterday who said treasuries were set to rally fairly quickly, that you're sort of in this scenario of really nowhere to make any money these days just given what's happening. >> yeah. if you look at our investment grade high quality corporate bond portfolios today as of this morning, they're yielding 4.25% to 6% for long maturity high quality corporate bonds. that's going to attract from our clients globally. you will see buyers gradually step in and obviously bernanke and what the fed's predicament is in has created a lot of volati
economy, housing around energy, but overall the economy is very unlikely to grow at 5% or 5.5% knowledge nal which is what the fed is forecasting and, therefore, the degree to which the market is pricing in tapering is unlikely to materialize. these rates actually will probably stabilize and head lower towards the end of the year. granted, we're seeing a lot of unwinding and a lot of volatility, but these markets should stabilize over time and this will prove to be an attractive buying...
101
101
Jun 18, 2013
06/13
by
CNBC
tv
eye 101
favorite 0
quote 0
broader economy, and their own country or the world. my question for janet is, the surprising thing to me about this report is that north america and the developed countries are actually back on top when it comes to wealth creation. if you look at china, you look at brazil, russia, the developing, emerging markets, which are supposed to be the new thing when it came to the world of wealth, and they're really secondary now. did we all get too bullish when it came to wealth creation in emerging markets? >> i think we're looking at short-term patterns here. the belief is when we look at asia-pacific, some of the developing economies, they will probably be back on top in the near term. particularly asia-pacific, which we think will have the fastest growth rate to 2015 where we think world wealth will be -- find net worth over 55 trillion. think about the volatility in the marks. in 2010, 2011, and think about what the u.s. markets did and, quite frankly, u.s. real estate. so it's really not a surprise. we flip-flopped a little bit in 2012 w
broader economy, and their own country or the world. my question for janet is, the surprising thing to me about this report is that north america and the developed countries are actually back on top when it comes to wealth creation. if you look at china, you look at brazil, russia, the developing, emerging markets, which are supposed to be the new thing when it came to the world of wealth, and they're really secondary now. did we all get too bullish when it came to wealth creation in emerging...
193
193
Jun 23, 2013
06/13
by
KTVU
tv
eye 193
favorite 0
quote 0
the economy is not improving significantly. you have conversations in the fed and wall street it is a disconnect. >> if the fed raises interest rates that can effect the mortgage rates and all kinds of things. it raises the question whether or not it was a mistake for the fed to be attached. did the economy and all of us become addicted to easy money? >> i think so. i e-mailed four different economists and financial types. took the words out of my mouth. i think, yes, there was a reasonable reason for an emergency intervention in 2008. keeping zero interest rate going for five years is asking for trouble down the roads. i'm afraid at some point we'll pay the price. i think the zero interest rate regime was good for wall street, big banks and big government which can borrow cheap. if interest rates were higher we would see an impact on the deficit. it's bad for small savers. it's been bad for small business actually. community banks don't benefit from this regime. i think the bernanke policies are part of an overall set of polic
the economy is not improving significantly. you have conversations in the fed and wall street it is a disconnect. >> if the fed raises interest rates that can effect the mortgage rates and all kinds of things. it raises the question whether or not it was a mistake for the fed to be attached. did the economy and all of us become addicted to easy money? >> i think so. i e-mailed four different economists and financial types. took the words out of my mouth. i think, yes, there was a...
116
116
Jun 21, 2013
06/13
by
CNBC
tv
eye 116
favorite 0
quote 0
economy, is only growing at 1.5%, so valuations are here. the economy and growth is here. and you're going to have to go through that corrective phase. we would recommend that investors continue to move up the quality spectrum as well as move down their duration and buy shorter-term maturities on their bonds. >> you got killed if were you in bonds this week. >> completely destroyed. >> and $38 billion of money coming out of bond funds. >> got completely destroyed. if the expectations are correct with the federal reserve -- which i don't agree with -- then you could see the 10-year move to a 3.5 handle over the course of the next several months. and that, indeed, is why the fear trade is starting to kick in. >> 30 seconds. best stock idea. >> best is triumph group, an aerospace parts company. we have price target there of $90 a share. >> the quality curve. >> quality inspection. >> johnson & johnson, and i'm giving you back 27 seconds. >> you won't tell us why. just -- >> johnson & johnson. international growth. great yield. 3.3%. if you want other drug stocks, abbott and m
economy, is only growing at 1.5%, so valuations are here. the economy and growth is here. and you're going to have to go through that corrective phase. we would recommend that investors continue to move up the quality spectrum as well as move down their duration and buy shorter-term maturities on their bonds. >> you got killed if were you in bonds this week. >> completely destroyed. >> and $38 billion of money coming out of bond funds. >> got completely destroyed. if the...
13
13
tv
eye 13
favorite 0
quote 0
china's economy has slowed down after several years of self reported steady growth but what do we make of all this and what does it mean for the average consumer who earlier i spoke with the well traveled jim rogers and author of street smarts adventures on the road and the markets i first asked him about black markets and what country today has the biggest black market. if your theory has a big black market these days i don't really know any other so i go there i don't have black markets and i'm not sure what the very end but you're exactly right you know black markets think that's a big thing for the currency it tells you something is wrong you don't know what's wrong. like taking your temperature or you know you're sick. but you don't know exactly what it is it's a question i don't really know of any black market right there i have. to go some places that have a pretty well i was thinking mostly of cyprus and what they've been through the past several months. i'm sure there's a black market for your insight but i just never been there which i reprogrammed. india well you also talk a
china's economy has slowed down after several years of self reported steady growth but what do we make of all this and what does it mean for the average consumer who earlier i spoke with the well traveled jim rogers and author of street smarts adventures on the road and the markets i first asked him about black markets and what country today has the biggest black market. if your theory has a big black market these days i don't really know any other so i go there i don't have black markets and...
113
113
Jun 20, 2013
06/13
by
CNBC
tv
eye 113
favorite 0
quote 0
zee an economy going through withdrawal and some of the economy and it's not a lot of it was addicted to this cheap money. the reality is i like what the fed chairman did. he came out with this when the market was near its top. had he done that when the market was down 200 s&p point from here it might be a different story, but i like the fact that he's let a little of this fluff come off, and i'm a buyer of this break and with the withdrawal comes and aren't you supposed to have some positive feeling before you hit withdrawals? >> it's not only that. it's the policy itself that i'm objecting to. >> katie, welcome to the show. you've got to jump in. this is a rough crowd. you've got to jump in. i'd like it hear your take on today's market on the inerds of this market including gold which got slaughtered today and only the dollar held up nicely. what did you learn from looking inside the market whether it's trading volume or sectors in the s&p. what did you learn? >> a lot of things from today, in fact. it was a very important day in a lot of levels and volume was one thing that bears p
zee an economy going through withdrawal and some of the economy and it's not a lot of it was addicted to this cheap money. the reality is i like what the fed chairman did. he came out with this when the market was near its top. had he done that when the market was down 200 s&p point from here it might be a different story, but i like the fact that he's let a little of this fluff come off, and i'm a buyer of this break and with the withdrawal comes and aren't you supposed to have some...
12
12
tv
eye 12
favorite 0
quote 0
you said you're not the world's best market timer but you also noted the slowdown in the chinese economy and how this has depressed commodity prices but you're also on record as being bullish on china and their currency the rim and b. in particular so when what do you see is the middle ground here i mean how bad could things get in china and what would need to happen to finally see them deep haggis from the u.s. dollar. boy you know if i were china i would do it by two thousand jenner two thousand and eleven or two thousand and twelve just shows you how much i know about when they got to. the chinese have no reason not to make their current convertible now i'm not chinese so obviously gotta do what they want to i would expect that to come any time now they've been making more and more strides towards opening it up as a response they've been opening it since two thousand and five in a recent thing they've certainly made a lot of progress towards opening for them. to come any time a problem in the next two or three years they're going the chinese have slowed down their economy for good rea
you said you're not the world's best market timer but you also noted the slowdown in the chinese economy and how this has depressed commodity prices but you're also on record as being bullish on china and their currency the rim and b. in particular so when what do you see is the middle ground here i mean how bad could things get in china and what would need to happen to finally see them deep haggis from the u.s. dollar. boy you know if i were china i would do it by two thousand jenner two...